SMSF Audit

Triennial audit risks industry contraction

The SMSF audit industry could witness increased contraction and consolidation should the triennial audit cycle policy proposal be legislated. Evolv's Ron Phipps-Ellis discusses this issue in a recent article published by Self Managed Super Magazine. To view the article, please click here>>          

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Evolv’s view on the 2018 Budget – SMSF Audit Cycle

LET'S TAKE ACTION TOGETHER The recent 2018 Federal Budget announcements interestingly included a section on triennial SMSF audits. From 1 July 2019, SMSFs with a history of ‘good record-keeping and compliance’ will only need to have their financial statements audited every 3 years. The smsf industry is a $900B sector that [...]

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NALI – Non-arms’s length income

Investments in related unit trusts are a popular investment vehicle for many SMSFs. Often the focus of these investments is ensuring that the unit trust investment complies with a host of legislative requirements in the SIS Act such as: the in-house asset rules, sole purpose test and ensuring all investments are [...]

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Rise in Preservation Age

With the beginning of a financial year upon us, SMSF trustees would have already been busy planning & executing various actions within their funds – reviewing investment strategies, ensuring their records are up to date and audit ready, and documenting pension commencements and commutations. With pension commencements in particular, trustees should [...]

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